Nuveen LLC Invests $33.74 Million in GameStop Corp. $GME

Key Points

• Nuveen LLC has invested approximately $33.74 million in GameStop Corp., acquiring 1,511,709 shares, which represent about 0.34% ownership in the company.
• In recent trading, GameStop's shares opened at $22.91 and the company has a market cap of $10.25 billion with a price-to-earnings ratio of 49.81.
• GameStop reported earnings of $0.17 per share for the quarter, surpassing analysts' expectations but showing a 16.9% year-over-year decline in revenue.

Nuveen LLC bought a new position in shares of GameStop Corp. (NYSE:GME - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,511,709 shares of the company's stock, valued at approximately $33,741,000. Nuveen LLC owned about 0.34% of GameStop as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GME. Slate Path Capital LP bought a new stake in shares of GameStop during the fourth quarter worth about $60,361,000. D. E. Shaw & Co. Inc. grew its position in shares of GameStop by 606.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,650,750 shares of the company's stock valued at $51,735,000 after acquiring an additional 1,417,156 shares during the period. Northern Trust Corp grew its position in shares of GameStop by 26.2% during the 4th quarter. Northern Trust Corp now owns 3,171,303 shares of the company's stock valued at $99,389,000 after acquiring an additional 659,345 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of GameStop by 42.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,036,589 shares of the company's stock valued at $32,487,000 after acquiring an additional 307,903 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of GameStop during the 4th quarter valued at approximately $8,317,000. 29.21% of the stock is owned by institutional investors.

GameStop Trading Up 0.7%

GameStop stock traded up $0.16 during trading hours on Monday, reaching $23.10. The stock had a trading volume of 5,082,517 shares, compared to its average volume of 7,397,725. The stock has a market cap of $10.33 billion, a PE ratio of 50.22 and a beta of -0.72. GameStop Corp. has a 52 week low of $19.31 and a 52 week high of $35.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 8.39 and a quick ratio of 7.89. The company has a fifty day simple moving average of $23.40 and a 200-day simple moving average of $25.29.

GameStop (NYSE:GME - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.13. GameStop had a net margin of 5.67% and a return on equity of 5.25%. The firm had revenue of $732.40 million for the quarter, compared to analyst estimates of $754.23 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The company's revenue for the quarter was down 16.9% compared to the same quarter last year. Analysts forecast that GameStop Corp. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Mark Haymond Robinson sold 11,055 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $24.18, for a total transaction of $267,309.90. Following the transaction, the general counsel owned 116,781 shares in the company, valued at $2,823,764.58. This represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,075 shares of company stock worth $315,685 in the last 90 days. 8.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wedbush raised shares of GameStop to a "strong sell" rating in a report on Tuesday, July 1st.

GameStop Company Profile

GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads.